Of the gross collections to date, Advance Tax accounted for ₹1,16,776 crore whereas Tax Deducted at Source was ₹2,71,849 crore. Inflows from Self-Assessment Tax stood at ₹18,128 crore, whereas common evaluation yielded ₹9,977 crore. For Representational objective solely.
| Photo Credit: PTI
Net direct tax collections have risen 11.2% within the first two and a half months of this monetary 12 months, with advance tax inflows for the primary quarter of 2023-24 rising 13.7%, the Finance Ministry mentioned on June 18.
As of June 17, the gross direct tax kitty had grown 12.7% over the identical interval final 12 months to cross ₹4.19 lakh crore.
Of the gross collections to date, Advance Tax accounted for ₹1,16,776 crore whereas Tax Deducted at Source was ₹2,71,849 crore. Inflows from Self-Assessment Tax stood at ₹18,128 crore, whereas common evaluation yielded ₹9,977 crore.
With refunds of over ₹39,500 crore made to taxpayers, the web tax kitty since April 1 stands at virtually ₹3.eight lakh crore. Notably, the tax refunds to date this fiscal are 30.1% larger than the identical interval of 2022-23
“The Net Direct Tax collection of ₹ 3,79,760 crore includes Corporation Tax (CIT) at ₹ 1,56,949 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at ₹ 2,22,196 crore (net of refund),” the ministry mentioned.
Within the advance tax revenues, CIT accounted for ₹92,784 crore whereas Personal Income Tax payers paid in ₹23,991 crore.
